When applicable I try to get the picture with the unit number right next to the document.

As you know, most residential doesn't work on cap rates, but if you are in those MF like you have then this is applicable. 

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

@Megan Mason recommend you watch some of the videos from @James Wise youtube channel on S8 evictions.We've been dealing with S8 tenants for over 20 years and they are NOT a cure-all for rent collection challenges.Since rents in Class A & B areas exceed S8 limits, most of your S8 rentals are going to be in Class C/D areas. 

If it were more than three years ago and everything else on their application was perfect, then I would consider it.However, I've never seen that in 15 years of management with hundreds of rentals and thousands of applications.

One of my friend is candidate so, a few months ago, I started watching the local news on TV.

Something problematic they find that was undisclosed on your application (not saying you'd do this, just giving an example), title issues, entity issues, issues with the appraisal even if the value is acceptable...you can either bite the bullet and pay for the appraisal, don't move forward with the loan, or try and find a HML/PML willing to lend to you without an appraisal. 

The second violation gets them suspended until they watch a 5-minute video that addresses their violation and proper behavior, and then they pass a five-question test.

If you get a salaried job after college that would be best possible situation as you wouldn't necessarily need the two years of work history.My last two pieces of advice is of course watch Bigger Pockets Podcast as much as you can to learn!

For the 2nd applicant, her credit score shows 770.